Citigroup Lowers McKesson (NYSE:MCK) Price Target to $945.00

McKesson (NYSE:MCK) had its target price lowered by investment analysts at Citigroup from $975.00 to $945.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 24.37% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Mizuho increased their price objective on shares of McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. TD Cowen raised their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Bank of America lowered their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $966.00 target price on shares of McKesson in a research note on Thursday, January 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $968.87.

McKesson Stock Up 1.7%

Shares of NYSE:MCK opened at $759.82 on Thursday. The company has a market cap of $91.33 billion, a P/E ratio of 19.75, a PEG ratio of 1.11 and a beta of 0.35. McKesson has a 52 week low of $637.00 and a 52 week high of $999.00. The company has a 50-day moving average price of $854.83 and a 200 day moving average price of $857.22.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the firm earned $10.12 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts expect that McKesson will post 44.29 EPS for the current year.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 190 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the sale, the executive vice president directly owned 2,989 shares of the company’s stock, valued at approximately $2,824,605. This represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michele Lau sold 2,725 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,264 shares of company stock valued at $3,205,315. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares in the last quarter. State Street Corp lifted its stake in shares of McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after purchasing an additional 29,660 shares during the last quarter. Geode Capital Management LLC grew its holdings in McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after purchasing an additional 25,082 shares during the period. Franklin Resources Inc. grew its holdings in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. lifted its position in McKesson by 5.6% during the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after buying an additional 126,684 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.